Dexia Credit Local, New York branch plans to sell five-year government-backed notes Wednesday

By Andrea Heisinger

New York, April 20 - Dexia Credit Local, New York branch announced an offering of five-year notes on Tuesday, with the sale going overnight to price Wednesday, an informed source said.

The notes will be priced under Rule 144A. They will be "the last government-guaranteed deal" backed by the governments of Belgium, France and Luxembourg, the source said.

Bank of America Merrill Lynch, Deutsche Bank Securities and J.P. Morgan Securities ran the books.

The bank and financial services company is based in Brussels, Belgium.

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